Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Sees Significant Drop in Short Interest

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 494,100 shares, a decline of 14.7% from the May 15th total of 579,200 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 100,100 shares, the days-to-cover ratio is currently 4.9 days.

Concrete Pumping Stock Down 4.8 %

NASDAQ:BBCP traded down $0.32 during trading hours on Friday, hitting $6.34. 85,757 shares of the stock traded hands, compared to its average volume of 135,779. Concrete Pumping has a fifty-two week low of $6.12 and a fifty-two week high of $9.15. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 1.21. The firm has a market cap of $341.54 million, a price-to-earnings ratio of 20.45 and a beta of 1.10. The firm has a 50 day moving average price of $6.93 and a 200 day moving average price of $7.61.

Concrete Pumping (NASDAQ:BBCP) last posted its quarterly earnings results on Thursday, June 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Concrete Pumping had a return on equity of 6.83% and a net margin of 4.25%. The company had revenue of $107.06 million during the quarter, compared to analyst estimates of $112.97 million. During the same period last year, the company posted $0.09 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that Concrete Pumping will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. William Blair lowered Concrete Pumping from an “outperform” rating to a “market perform” rating in a report on Friday, June 7th. Stifel Nicolaus cut their target price on Concrete Pumping from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, June 7th. DA Davidson cut their target price on Concrete Pumping from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Finally, Robert W. Baird cut their target price on Concrete Pumping from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Monday, June 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.25.

Insider Activity at Concrete Pumping

In other news, CEO Bruce F. Young sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $7.00, for a total transaction of $35,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,040,753 shares of the company’s stock, valued at $14,285,271. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Concrete Pumping

Hedge funds have recently bought and sold shares of the business. Aristides Capital LLC boosted its holdings in Concrete Pumping by 63.5% during the first quarter. Aristides Capital LLC now owns 88,052 shares of the company’s stock valued at $696,000 after acquiring an additional 34,207 shares during the period. Epoch Investment Partners Inc. bought a new stake in Concrete Pumping during the first quarter valued at about $3,439,000. Quadrature Capital Ltd bought a new stake in Concrete Pumping during the first quarter valued at about $180,000. Empowered Funds LLC boosted its holdings in Concrete Pumping by 8.2% during the first quarter. Empowered Funds LLC now owns 268,272 shares of the company’s stock valued at $2,119,000 after acquiring an additional 20,290 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Concrete Pumping by 8.1% during the first quarter. Janney Montgomery Scott LLC now owns 59,500 shares of the company’s stock valued at $470,000 after acquiring an additional 4,459 shares during the period. 34.20% of the stock is owned by institutional investors and hedge funds.

About Concrete Pumping

Concrete Pumping Holdings, Inc provides concrete pumping and waste management services in the United States and the United Kingdom. The company offers concrete pumping services to general contractors and concrete finishing companies in the commercial, infrastructure, and residential sectors under the Brundage-Bone and Capital Pumping brands; and industrial cleanup and containment services primarily to customers in the construction industry under the Eco-Pan brand.